Country must re-orient to an export oriented economy – President

President Ranil Wickremesinghe yesterday appealed to the country to reorient to an export oriented economy which will help sustain social services. He also said that it also should be a beginning for the fact that Sri Lanka should reduce its debts and if possible, even eliminate its debts.

The President made these remarks when the IMF delegation met the President at the Presidential Secretariat yesterday concluding their visit to Sri Lanka.

“I would like to say that when I was born,

Sri Lanka had no debt and we had sufficient reserves to lend to the UK which was recovering from war times. We had made enough out of our rubber, and our tea and we built our first reservoir out of our own initiative”, he said

He said that the government of D.S. Senanayake believed in one principle that a nation and a person should be debt free. “He was the Chairman of the Lay Organization of the Buddhist sects in this country and like all others, was Committed to follow the doctrine that people should not get into debt and there should not be insolvency,” he said.

President Wickremesinghe said that this is an important step in the history of Sri Lanka. “Not only rising from the bankruptcy crisis and the debt moratorium, it is also key to ensure that our social sectors are protected and both our economic and social aspect of our lifestyle will certainly not have any further setbacks.”

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